Cantor Fitzgerald Upgrades Public Storage (PSA) to Buy, Underperformance Provides Rare Opportunity

December 4, 2012 6:51 AM EST Send to a Friend
Get Alerts PSA Hot Sheet
Price: $179.78 --0%

Rating Summary:
    6 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 1
Trade PSA Now!
Join SI Premium – FREE
Cantor Fitzgerald upgraded Public Storage (NYSE: PSA) from Hold to Buy with a price target of $160.00 (from $143.50).

The firm comments, "Relative YTD underperformance has provided a rare opportunity to accumulate shares of PSA at a modest premium to NAV. The Co's. high occupancy level should facilitate ever-stronger pricing power that should lead to above-average core NOI growth."

The firm adjusted 2012/2013 FFO/sh. ests. to $6.21 and $7.15, respectively, from $6.17 and $6.90. They adjusted 2012/2013 AFFO/sh. ests. to $6.26 and $6.74, respectively.

For an analyst ratings summary and ratings history on Public Storage click here. For more ratings news on Public Storage click here.

Shares of Public Storage closed at $142.52 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst EPS Change, Analyst PT Change, Upgrades

Related Entities

Cantor Fitzgerald

Add Your Comment